This will be short, as there's not a lot I can add to Keith Olberman's description and reaction to this lost nugget. In case you missed Countdown last night and tonight, Keith referred to a two-year old interview of Colin Powell during a 2007 visit to OU where he was asked about a comment he made in a GQ interview that had been recently published -- with a real stunning quote noticed solely by Terry Gilliam apparently.
I've found the OU Daily story and the astoundingly overlooked video interview.
Enjoy.
I'll try to do a transcript.
Update: Here's the GQ interview.